$5M+ Deals – Sold: Hermosa Inn, $40M retail center in Buckeye, senior living facility in Peoria

Below are the deals that closed Wednesday, May 6, 2015, in Maricopa County over $5 million according to the Maricopa County Recorder. Rose Law Group Reporter has not independently verified these transactions.

$40 million sale of Sundance Towne Center retail center on the southwest corner of S. Watson Road and Interstate 10  (606 S. Watson Road) in Buckeye by VSTC LLC, an entity of Vestar, a privately held real estate company that acquires, develops and manages retail and entertainment destinations, according to their website.

The buyer was Watson Property LLC an entity created by California-based 1st Commercial Realty Group Inc., a commercial property management company.

The sale included at least 13 parcels for a total of more than 32 acres, tenants including Cracker Barrel Old Country Store, a Wells Fargo branch, and PetSmart.

The buyer put down $16 million on a conventional loan for the property.

To view the affidavit, click here.

 

$16.12 million sale of the Pacifica Senior Living facility on the southeast corner of W. Athens Street and N. 91st Avenue (9045 W. Athens Street) in Peoria by CLP Peoria AZ Senior Living LLC an entity created by National Retail Properties, a real estate firm that owns 2,054 stores in 47 states with a total gross leasable area of about 22.5 million square-feet, according to their website.

The buyer was SNH/LTA Properties Trust, an entity created by Reit Management & Research, a Massachusetts-based private company that primarily manages publicly traded real estate companies, according to their website.

The 3.7-acre Pacifica Senior Living location, built in 1997, is one of many throughout the U.S. West and South, and one of three in Arizona.

It offers full-service memory care programs to help individuals with Alzheimer’s disease and other forms of dementia.

The buyer paid cash for the property.

To view the affidavit, click here.

 

$9.4 million sale of the Hermosa Inn and Lon’s restaurant on the northwest corner of E. Standford Drive and N. Palo Chrisi Road (5532 N. Palo Christi Road) in Paradise Valley by entities created by National Western Capital Corp. (Jennifer Unger, member).

The buyer was Allred Capital LLLC, an entity created by Dann Holdings Inc.

The Hermosa Inn, a boutique resort that recently underwent a $2 million renovation, features 34 hacienda-style casitas on more than six acres in Paradise Valley.

Lon’s at Hermosa is a popular dining destination in the Valley.

To view the affidavits, click here and here.

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